Trinity Teams With Okura for Limited-Service Hotels in Japan
- New chain, Nikko Style, aimed at business and leisure guests
- Booming tourism constrained by lodging shortage, McKinsey says
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Trinity Investments LLC, a Hawaii-based real estate firm, said it plans to open a chain of limited-service hotels in Japan in partnership with Hotel Okura Co., targeting a surge in tourism that the government hopes will double by 2020 when Tokyo hosts the Olympic Games.
Trinity will seek to raise as much as $300 million of equity to initially fund the chain, called Nikko Style and aimed at leisure and business travelers, said Sean Hehir, president and chief executive officer of Trinity. The first hotel is scheduled to open in 2020, he said. The partners aim to open 20 to 30 Nikko Style hotels throughout Japan, including in Tokyo, Osaka and Fukuoka, then potentially expand in Asia, North America and Europe, Hehir said.